Sales Range & Price Point Analysis

The Sales Range & Price Point Review dashboard is intended to show you the ranges of average sales in categories and sales modes, and allow you to filter on specific characteristics of the sales to see how your customers are spending. Sales channels could be In-Store Retail, Buy Online Pickup In Store (BOPIS), Same Day Delivery (SDD) as some examples. With this information you can understand for specific time periods, locations, price points (among other factors) how your customers, and guests are spending their money and the mode they are choosing for their shopping.

It is important to note that the data considered begins with the date on the heading panel of the dashboard, under Earliest Transaction Date.  This means that your trends and filtered data will start with the transactions on this date.

Also remember that data calculated for "customers (excluding guests)" could have a grand total that is different from data calculated for both customers & guests (like average transactions for example).

You will see a link to this document in the top of the dashboard, under the heading Dashboard Help. 

Graphic Displays

At the top of the dashboard you will see 3 charts that reflect the overall distribution of sales in categories, sales modes and price points. If you start here with the dashboard filters set to include all activity, you will have a good starting point begin your analysis. You are likely to already know which of your categories will perform in the higher percentages of sales. Do you know how the ranges of sales within that market share behave? You may have a good idea about how much of your sales are in-store vs, shipped. Do you know how the average customer spend, or the average transaction spend affects that distribution? It's likely that you have specific price points that account for larger sections of your revenue. How does a specific price point perform across your chain of locations? Note that the price points in this dashboard are based on the item list price before any discounts.

On the chart, if your distribution contains "Other" as a grouping, this represents the smaller sections of category sales - click on the "Other" section to expand that section; to revert back to the initial graphic, click on the "Back" button that appeared when you clicked on "Other".

On this dashboard you can use the filters to the right, or you can click on a section of a graphic that you find interesting, and the results of the dashboard will adjust. 

You are able to filter this dashboard to see store sales, including online orders that are fulfilled by the store such as BOPIS/Curbside or Same Day Delivery. Use the filters to the right of the dashboard to narrow Store Name to the store(s) you want to see, plus your online "location" i.e. xyz.com. Then use the Location Id for Online Orders filter to select the location id of the store(s) you are analyzing. For example, if you want to analyze Store #1 ABC: on the Store Name filter choose ABC and xyz.com; on the Location Id for Online Orders choose 1. This will reflect the In-Store sales for that location plus the online orders that the store fulfilled.

The next sets of graphics will show you in pre-determined sales ranges, the average customer spend (excluding guests), the average transaction spend (customers and guests) and the total spend (customers and guests). There are two sets of graphics here - the first set shows the ranges for your categories, and the second set shows the ranges for your sales modes.

Let's start with the first set and look at the ranges for your categories. You will see a set of column charts that show the average customer spend in ranges, in this example when the average customer spend in a category is between $49 and $75, three categories are in this group with averages of $52, $49 and $65 for a total of $166. What this means is that based on all the other filters of the dashboard your customers spend on average between $49 and $75 in these categories. To find the specific categories involved, plus the average transaction spend (this is a per transaction vs. a per customer calculation) and the total spend you can click on the column for the range $49 - $75 and the dashboard will filter to that data.

In this particular example, that range is the highest so it tells you first that your customers are spending the most in these categories. You can scroll through the dashboard to see how else this data is segmented - for example when you clicked on the column and filtered the dashboard, you can see how those customers are shopping - in store, shipping, BOPIS etc. When your customers shop in these higher spend categories, are they doing that more inside stores? What in your marketing or merchandising could be causing that to happen - can it be enhanced in other shopping modes? You can also have a look at your locations to see which are stronger, or need help for these categories. Say for example, a particular location is not doing so well for this set of categories - what is different in this location vs. the location where sales are strongest? Take a look at the sales by price point - every sale adds up, there could be some price points where you do better than others though - maybe you can see in the sales that higher price points just do not sell very well - or maybe you'll see that they are the ones making all the money. Is this an opportunity to adjust prices and test some elasticity? Finally take a look at the summary by sales channel - does your staffing align with how your customers are shopping? As you make channels available, say BOPIS / Curbside, how are your customers responding to their options?

Note that in the Associated Sales Activity table, you can right click on a category name to drill further into the items that are included. Doing this will give you the metrics for that particular category.

In the opposite direction, you can select the lowest range for for categories, and do a similar analysis.  Of course, the lowest range might not mean that customers don't show their love for these products - it could be that these are lower priced items, maybe the impulse products at the registers.

Below the set of charts for spending within categories, you will see a similar set, this time set in ranges for shopping modes. This set of charts responded when filtered in the above example. You can start here instead of the category section to start analyzing how your customers are spending by sales mode. Maybe your customers spend more online than they do in the physical stores - click on the column for the range you want to analyze and again review the metrics on the dashboard. What are the price points, what is the customer spending over time?

One thing you might notice is the importance of knowing what your customers are doing, especially through their shopping months. This will highlight the importance of turning guests into customers, so you can measure how they are shopping and help them get to the next levels. You might take this opportunity to set an initiative to sign up more customers

Any of the data tables can be exported to work with the data outside the dashboard. Do this by clicking on the 3 dots at the top right corner of the widget, choose Download and export an image or file.  The recommended file type for a spreadsheet is CSV.